More Investors Turn to Financial Advisors During Pandemic

Demand for financial advice has increased since the outbreak of the coronavirus pandemic, according to a brief survey released Thursday by The College for Financial Planning.

Seventy-one percent of advisors who responded to the survey reported that they had more clients now than before the pandemic.

The survey was conducted from Aug. 25 to Oct. 2 among 209 financial advisors.

Seven in 10 respondents said the virus outbreak and recession had not prompted their clients to postpone retirement.

Asked whether they were hearing concerns about inflation in the coming year, 61% of advisors said no, 31% said yes and 8% were unsure.